Philippines’ new era of online gambling

Jade Denosta June 19, 2024

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Philippines’ new era of online gambling

The year 2016 was the peak of online gambling in the Philippines, when the country finally legalised the activity. With Philippine Amusement and Gaming Corporation (PAGCOR) as the regulator, online gambling flourished rapidly throughout the country. But as years pass and foreign influences merge with Filipino traditions, online gambling in the Philippines is now on the move to enter a new era of change.

Conflict of interest

Online gambling has experienced robust growth due to the involvement of Philippine Offshore Gaming Operators (POGOs). However, with PAGCOR acting both as the regulator and promoter of the said industry, conflict of interest is inevitable. Public concern over this issue has intensified following recent controversies involving major and prominent figures such as Tarlac Mayor Alice Guo. As a result, requests were raised for stricter measures to address these concerns and ensure responsible gambling practises were being modulated as the industry continues to expand.

Pessimistic views

Philippines’ gambling industry operations are now facing public scrutiny. With the aggressive advertising of POGOs in the country, sparking discontent among the Filipinos.

While public opinion on gambling has been tolerant, concerns are mounting. The public went overly worried about the societal impact of the industry’s rapid expansion and the overwhelming presence of POGO advertisements.

Setting a new stage

The Philippines’ online gambling industry is on a steady road for continuous expansion, with projected revenues expected to reach $680 million (€633 million) by the end of 2024 and an annual growth rate of 4.94% through 2029. The growth acquired was because of the continued innovations such as VR casinos and live dealer games, which promised an immersive gaming experiences and increased player engagement. Regulatory frameworks, including oversight by PAGCOR and POGOs, aim to balance growth with responsible gambling practises. However, challenges such as cybersecurity and regulatory compliance still raises some concerns from the public. As the industry navigates into these dynamics, online gambling is expected to remain a key economic contributor in embracing regional technological advancements while ensuring a secure and ethical gaming environment for players.

SiGMA East Europe Summit

Find out more about the latest updates and trends in the industry, from latest regulatory news to most recent innovations at the upcoming SiGMA East Europe Summit happening in Budapest from 2 – 4 September.